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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 988,331 $ 419,131
Adjustments to reconcile net income to cash provided by operating activities:    
Provision for policy losses and other claims 445,677 414,001
Depreciation and amortization 118,475 110,652
Impairment losses on exit of business 0 73,264
Amortization of premiums and accretion of discounts on debt securities, net 32,890 28,678
Net realized investment gains (428,590) (49,491)
Share-based compensation 46,633 44,000
Equity in earnings of equity method investments, net (6,066) (3,556)
Dividends from equity method investments 8,980 4,383
Changes in assets and liabilities excluding effects of acquisitions and noncash transactions:    
Claims paid, including assets acquired, net of recoveries (356,445) (342,721)
Net change in income tax accounts 58,841 (47)
Increase in accounts and accrued income receivable (53,661) (72,670)
Increase in accounts payable and accrued liabilities 70,388 32,030
(Decrease) increase in deferred revenue (28,131) 21,668
Other, net (21,340) 1,723
Cash provided by operating activities 875,982 681,045
Cash flows from investing activities:    
Net cash effect of acquisitions/dispositions (60,966) (387,024)
Net (increase) decrease in deposits with banks (7,724) 1,859
Purchases of debt securities (4,973,589) (1,962,074)
Proceeds from sales of debt securities 869,057 694,588
Proceeds from maturities of debt securities 1,403,680 1,157,725
Purchases of equity securities (135,600) (169,694)
Proceeds from sales of equity securities 78,658 92,318
Net change in notes receivable (12,698) (11,116)
Advances under secured financing agreements (19,292,193) (11,619,818)
Collections of secured financings receivable 19,389,457 11,185,121
Capital expenditures (111,080) (91,601)
Proceeds from sales of property and equipment 13,137 13,951
Proceeds from insurance settlement 11,815 123
Cash used for investing activities (2,828,046) (1,095,642)
Cash flows from financing activities:    
Net change in deposits 2,157,506 162,209
Borrowings under secured financing agreements 17,938,875 10,964,792
Repayments of secured financings payable (17,861,423) (10,716,660)
Net proceeds from issuance of unsecured senior notes 641,849 443,936
Borrowings under unsecured credit facility 0 120,000
Repayments of borrowings under unsecured credit facility 0 (280,000)
Repayments of notes and contracts payable (5,454) (4,228)
Net activity related to noncontrolling interests (3,034) (2,090)
Net proceeds (payments) in connection with share-based compensation 1,023 (5,597)
Repurchases of Company shares (78,846) (68,864)
Payments of cash dividends (157,066) (147,768)
Cash provided by financing activities 2,633,430 465,730
Effect of exchange rate changes on cash (2,845) (3,122)
Net increase in cash and cash equivalents 678,521 48,011
Cash and cash equivalents—Beginning of period 1,275,466 1,485,959
Reclassification to assets previously held for sale 0 (21,601)
Cash and cash equivalents—End of period 1,953,987 1,512,369
Supplemental information:    
Interest 42,481 30,034
Premium taxes 70,154 59,523
Income taxes, less refunds of $126 and $3,168 $ 261,372 $ 122,086